Locked content EBRD sells 2.9% stake in Azoty

The European Bank for Reconstruction and Development (EBRD) sold 2.85 million shares of chemicals Grupa Azoty, representing 2.9 percent stake in accelerated bookbuilding, the EBRD said in a press statement. After the sale, the lender will have 2.9 percent shares in Grupa Azoty. “The bank, as an acti...

Locked content PGNiG extends PLN 7 bln gas deal with Grupa Azoty

State-owned, WSE-listed companies PGNiG and Grupa Azoty extended the gas delivery deal, potentially worth PLN 7 billion. The new contract will run till 2020, with the possibility to extend it by another 2 years. The gas delivered to Azoty’s unit in Puławy is estimated to be worth PLN 3.2 billi...

Locked content Grupa Azoty profit down

Polish chemical giant, Grupa Azoty recorded net profits of PLN 225.7 million in Q1, whereas in the corresponding period last year, the results totaled PLN 272.37 million. Consolidated sales revenue reached PLN 2.68 billion, compared with PLN 2.47 billion one year ago. The company’s operating p...

Locked content Tauron and Azoty plan coal gasification project worth €400-600 mln

State owned chemical group Azoty and power utility Tauron plan to develop a coal gasification project worth €400-600 million by 2019-20, companies said in a market filing. “The estimated value of the project will depend on the technology picked,” the companies said announcing that they signed a lett...

Locked content Azoty with PLN 375.2 mln preliminary net profit

WSE-listed chemicals group Azoty had PLN 375.2 million net profit and PLN 1 billion EBITDA, according to the company’s preliminary financial results. Revenues stood at PLN 8.96 billion. For Q4, Azoty had PLN 29.4 million profit and PLN 2.32 billion in revenues. The estimates are in line with consens...

Locked content Government sending mixed signals regarding repolonization

Cabinet minister Henryk Kowalczyk said in an interview with TV Republika that the treasury should increase its stakes in PKN Orlen and Grupa Azoty, while suggesting that Orlen and Lotos should merge. The energy ministry later said that no such plans are currently being developed. “The level of holdi...

Locked content ZCH Police agree to purchase PLN 140 million of ilmenite

Grupa Azoty Chemical Works Police has concluded a deal with Titania AS of Norway to purchase ilmenite with an estimated value of PLN 140 million by the end of 2019, the company reported. “The contract value is estimated at PLN 140 million. The agreement was concluded for a specified period fro...

Locked content Grupa Azoty with new CEO

Polish chemical producer Grupa Azoty announced that Wojciech Wardacki has become president of the company’s management board. According to the company’s press release, the supervisory board made the decision at their meeting on Friday. Wardacki will replace Mariusz Bober, who stepped down after five...

Locked content Acron: No plans to sell our stake in Grupa Azoty

Russian feltirizer producer Acron is not planning to sell its stake (some 20 percent) in Polish, state-controlled chemicals giant Grupa Azoty. “We have this stake on hold now,” said Acron board chairman Alexander Popov. For years, Acron has tried to acquire a controlling stake, first in Azoty Tarnów...

Locked content Morawiecki announces shuffling of PZU, Grupa Azoty

Minister of Finance and Development, Mateusz Morawiecki, stated that Poland’s largest chemical company, as well as its largest public insurer, will move from the Treasury to be placed under the supervision of the Ministry of Development, the Polish press reported on Friday morning. The minister also...